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Thursday April 30, 2020

  • Beans attempting a move higher this morning on decent export sale numbers proving the old adage that low prices cure low prices 
    • All three commodities saw a strong week last week, corn and wheat coming in above expected range and beans more than tripling previous weeks sales
  • U.S. weather has been conducive for planting corn so far and that exactly what the American farmer has been doing, with ideal planting conditions, corn to soybean acreage switching will likely be kept to a minimum despite low corn prices
    • What will end up an ugly story for corn supplies could help tighten up bean stocks and give some opportunity to that market 
  • Wheat market has slid significantly this week as weather concerns that were priced into the market have been largely rectified with recent rains
  • Expectations for the USDA March soybean crush numbers are high – a record at 191.5 million bu expected to be released in tomorrows report 
    • Previous record for a monthly number was 188.8 million bu met in January 2020
  • Gasoline usage in the U.S. inched higher for a second consecutive week last week according to the U.S. Department of Energy – indicating we may have hit the bottom and are starting a slow road back to recovery 
  • An interesting comparison on Canada’s vs the U.S. stance on using ethanol based hand sanitize
Wednesday April 29, 2020Friday May 1, 2020